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The ChiNext Index rose on Thursday as all of the 28 shares at China's start-up board for small and medium-sized enterprises were up. The board, which is based in Shenzhen and started trading on Oct 30, 2009, is tailored to the needs of enterprises engaged in independent innovation and other enterprises with great growth potential. Source: BizChina
Zhejiang Hexin Flush Network Services Ltd, a stock trading system operator and financial information provider, has won qualification for the initial public offering (IPO) on China's growth enterprise board of ChiNext, and will get listed on the Nasdaq-style exchange upon further ratification. The company seeks to raise 252 million yuan ($36 million) thro...
China's largest cell phone operator, China Mobile, said yesterday that 3 million users were likely to subscribe to its third generation (3G) service by year-end and that the company was still in talks with Apple Inc to sell iPhones in the world's largest mobile phone market. Wang Jianzhou, chairman of China Mobile, said in Hong Kong that the company exp...
The People's Bank of China (PBOC) and the Ministry of Public Security (MPS) have planned a nationwide crackdown on bank card crimes in 2010, the central bank said Wednesday. The crackdown would last for 10 months, starting from January 2010, the central bank said on its website. In the first eight months of 2009, public security departments placed on f...
China's economy needs to be driven by household consumption, Michael Spence, winner of 2001 Nobel Prize in Economics, said in Qingdao on Wednesday. Spence made the remarks at the FT (Financial Times) Chinese Annual Forum 2009 in the eastern coastal city of Qingdao. China's economic stimulus package, which took 9 percent of its GDP and started in Octob...
China is among the emerging markets facing risks of property and commodity market bubbles, central bank advisor Fan Gang said, joining officials from the region in expressing concern about surging asset prices. A "double-digit" economic growth rate wouldn't be good for China, Fan, who heads the National Institute of Economic Research, said at a business ...
China's National Development and Reform Commission (NDRC), the country's top economic planning agency, announced Thursday to raise the price of electricity for non-residential use by 2.8 cents (0.4 US cents) per kilowatt hour on average nationwide, as of Friday. Residential electricity prices would not be raised this time. However, they would be charged...
Chinese equities continued upward for the fourth consecutive trading day Wednesday and surpassed the 3,300 mark. The Shanghai Composite Index, which covers both A and B shares, climbed 0.62 percent to 3,303.23 points, its highest point since August 6. The Shenzhen Component Index edged down 0.21 percent to 13,642.35 points. Gains outnumbered losses by 4...
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